International Trade in Services in India: Implications for Growth and Inequality in a Globalizing World

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India's services trade has grown at a very fast pace and now contributes more than one-third of the export revenue. India has also succeeded in raising its penetration in global markets more rapidly for services than for goods. Discussing the theoretical and empirical basis of the flourishing world trade in services, this book analyses the factors responsible for the rapid rise in services trade in India, its composition, and sectoral strengths and weaknesses. Being invisible, services trade faces many complicated barriers and challenges. Highlighting the implications of rising services trade for pro-poor growth, this book delineates why removal of barriers to trade in services may be welfare enhancing in terms of its efficiency in reducing poverty as well as inequality. Taking the case of higher education, heath, and transportation services, it identifies the existing barriers and suggests selective liberalization.